08/11 - Debt Ceiling Deal: Controlling the Budget 2011

What does the compromise bill mean for the average citizen?

With just hours to spare, Congress passed and President Obama signed the &quotBudget Control Act of 2011&quot allowing the country to extend its debt ceiling and avert a potentially catastrophic default. Where will the $1.5 trillion in spending cuts fall? What role did the bill play in downgrading the U.S. bond rating? And what does the compromise bill and downgrade mean for the average consumer? Watch &quotDebt Ceiling Deal: Controlling the Budget 2011&quot on Louisiana Public Square, Wednesday, August 24th at 7:00 PM CT.

Backgrounder

With just hours to spare, on August 2nd Congress passed and President Obama signed the &quotBudget Control Act of 2011&quot allowing the country to extend its debt ceiling and avert a potentially catastrophic default. The bill was the final chance in a series of proposals to raise the debt ceiling before the default deadline. The bill reduces federal spending by $917 billion over the next ten years with an additional $1.5 trillion in cuts to be proposed by a bipartisan congressional committee by Thanksgiving. Where will these cuts fall? What role did the debate play in the downgrading of the U.S. bond rating? And what does the compromise agreement and downgrade mean for the average consumer?

This program was also funded in part by the Louisiana Forestry Association

We want to know your opinion! Leave your comments in the box below.

It’s not politically correct to point out the fact that congress spends primarily for the purpose of getting re-elected!

Posted by William Weldon on 08/24 at 07:47 PM

I really enjoyed participating in this week’s show. I only wish there was more time to continue the discussion. Hopefully, Mr. Cassidy will take the information given by the economist on your panel, back to Washington to make the necessary changes needed to right our economy.
Thank you,
Reginald Ducote

Posted by Reginald Ducote on 08/25 at 08:38 AM

The show today came up with many was to fix or put a bandage on the problem, but as we know none of the solutions will be put into play. The ideal that most people with money dont have many problems, they just don’t care. To answer any question is simpley to say 25 percent do, don’t, don’t know , and don’t care, so you can never please any group, but the problem is the the one that is making the rules is total 3 percent and that don’t add up. No one should cut anything that is by the people and for the people. A person once asked why do robber rob banks, he said that’s where the money is. Where is the money and if it get too bad assume it is a security threat and put a block on the money until we get things worked out.

Posted by Travis Johnson on 08/25 at 09:55 AM

There a few points I would like to address:
1. The senior citizens have earned their own social security dollars, we should not cut it.
2. Reform Social Welfare. Too many families has been on the program for generations. It’s unfair that most of the tax payers only able to afford to raise 2 or 3 children while the welfare recipients have dozens children and everyone is receiving our free tax dollars.
3. Reform Amendment 14. We can’t afford to recognize those illegal immigrant’s babies to be our future citizen. This has threatened our southern border with a country suffering from high levels of crime, unemployment and income inequality. Over 20 millions of illegal immigrants including the Chinese illegal immigrants are in here. Remember, China has over a billion of population and majority of them are trying to move over here in the US. President Obama should not legalize it.
4. The Foreign Aids need to be re-evaluated. Why we still donate several billion dollars to China yearly? CHARITY BEGINS AT HOME. We need to fully control our borders to secure our territory prior to protecting the others.